Riskgaming

Apr 12 2025 146 ep. 30 mins 211

Riskgaming Podcast artwork

A podcast by venture capital firm Lux Capital on the opportunities and risks of science, technology, finance and the human condition. Hosted by Danny Crichton from our New York City studios.

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Making shoes isn’t the right strategy

Apr 12 2025 49 mins

The markets have massively gyrated the past few weeks as hourly pronouncements from the White House and Mar-a-Lago seize investors with terror or relieve them of stress. At the heart of the vociferous debate around tariffs and trade is nothing less than the future economy of the United States. What should be built here? What should we outsource? Who pays for that new economic struc

The hyper-competition of U.S.-China trade relations

Apr 04 2025 32 mins

With the launch of President Trump’s trade war this week, few countries are more at risk than China. Faced with a sudden and massive expansion of tariffs as well as changes to the de minimis parcel rule, the export-led development model that has led China to great wealth is now under serious threat. What should we learn from the past of U.S.-China relations in order to understand

“You can cause a lot of havoc with a cell phone and a cheap DJI drone”

Mar 28 2025 41 mins

Chaos is the rule of the day, with markets, companies, governments and individuals being rapidly buffeted by events and change. Technology is exacerbating that chaos by offering asymmetric leverage to more people. On the positive side, technologies like AI and drones can drastically improve the productivity of workers and artists to perform their craft, benefiting us all. But there

Why immersion — and not realism — is critical for wargaming

Mar 21 2025 43 mins

Despite centuries of experience designing and playing war games, there is still very little rigorous research on how to evaluate what makes a good game. What’s the design goal? How much should (or even can) a game reflect reality? Are tighter or looser rules more likely to lead to productive learning? Is having fun important? That lack of rigorous analysis has historically stymie

“We have an addiction to prediction”

Mar 14 2025 28 mins

Humans hate uncertainty, which means we are constantly looking for means to narrowly consider the future and its implications. Planning, predicting and debating what’s next may be the mainstay of any organization in the world, but organizations rarely want to confront upcoming existential challenges or radical shifts in strategy. That’s where foresight psychology comes in, with

“Every system can be gamed”

Mar 07 2025 45 mins

AI and democracy are in great tension with each other. AI models are built by a priesthood of research specialists, unmoored from the will of the public. Yet, these very models are increasingly running important parts of the economy and increasingly government. How do we take advantage of these new capabilities without losing control of them?That’s the debate at the center of our

Americans are an incredibly generous people

Mar 01 2025 33 mins

Amidst the upheaval in Washington, D.C. these days, one of the most notable and controversial decision from the second Trump administration has been the dismantling and closure of the United States Agency for International Development (or U.S.A.I.D.). In addition to funding humanitarian response and global public health initiatives (most notably with HIV/AIDS), the agency has prior

How America holds it all together

Feb 22 2025 40 mins

There are two sides of America. One is the country’s world-leading innovation centers, which offer the highest salaries and potential wealth creation anywhere in the world. The other is the bleak deindustrialized hinterlands where former mines and factories once dotted the landscape. Here, middle class jobs have been casualized or wiped out entirely, leaving behind a depressing a

Luck rules our lives, so why don’t we teach more about it?

Feb 14 2025 36 mins

Cruel, petty and occasionally magnanimous, fates rule our lives, determining everything from our careers and romances to our financial success. Despite a burgeoning academic literature studying luck and the occasional theoretical probabilist complaining about Bayesian statistics, we haven’t brought the chance of chaotic complex systems into the classroom, and that’s particularl

How Russia is bringing the cost of global sabotage to zero

Feb 06 2025 38 mins

When Russia launched its war on Ukraine in early 2022, it became the first land battle on European soil since World War II. Warfare has changed dramatically since then — from first-person view drones to AI-mediated strategic communications, as well as intelligence gathering and operations — and yet, critical continuities remain between Russia’s present and past strategies and